The real estate market in Orlando continues its deterioration with high inventory levels and price declines. The recent more stringent lending requirements and rise of interest rates will decrease the number of buyers in the coming months. I believe we will continue this decline until the inventory changes to around 10,000 homes on the market. New home builders are offering up to 10% commissions and extravagant bonuses such a shopping sprees at luxurious shops, cars, and Rolex watches. Perhaps they have a grimmer perspective on the local real estate market than I do. I’ve seen a slight pick up in activity in June but we’ll have to see if the traditional peak season for the Orlando market will take place this year. Last year we did not see pick up in activity for the real estate market during the peak season which usually takes place in the summer months.
Real Estate Market Indicators for Orlando as of 6/8/2007
June 26th, 2007 · No Comments
Tags: Market Statistics